XAGUSD is facing bearish pressure from pivot, potential reversal

Price is facing bearish pressure from our pivot, in line with the horizontal overlap resistance and 61.8% fibonacci retracement and 61.8% fibonacci extension where we could see a further drop below this level to our first support target. Failure to hold below the pivot level could see prices swing towards our first resistance target at 28.3300.

Pivot: 27.9468
Supporting Points:
horizontal overlap resistance and 61.8% fibonacci retracement and 61.8% fibonacci extension

1st Support: 26.9918
Supporting Points:
Horizontal swing low support, 78.6% fibonacci retracement, 100% Fibonacci extension

1st Resistance: 28.3300
Supporting Points:
horizontal swing high resistance

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